SRS Real Estate Partners Completes $39 Million Portfolio Sale of Six Gas Station Assets in Las Vegas and Arizona

SRS Real Estate Partners has completed the approximately $39 million portfolio sale of six gas station assets, four of which are Conoco-branded properties located in Las Vegas, NV, and two of which are 76 Gas stations in the greater Phoenix, AZ market.

SRS Capital Markets Managing Principals Patrick Luther and Matthew Mousavi, and First Vice President Winston Guest represented the seller, LV Petroleum, LLC, who will lease-back all six properties with 20-year, absolute triple-net leases in place. Each property had a separate individual private buyer.

“Despite the challenges facing this current market, our national platform and large buyer network enabled us to receive multiple bids for each property, showcasing the strong demand for passive, long-term lease opportunities,” said Guest. “All of these assets are run by an experienced operator, are well-located, offer accelerated and bonus depreciation benefits, and feature 3% annual rent increases, which attracted savvy investors and allowed us to deliver exceptional results.”  

Following is information on each property:

Conoco properties in Las Vegas:

  1. 8880 Rainbow Blvd. totals 3,500 sf and was sold for $7.07 million
  2. 7180 S. Jones Blvd. totals 3,592 sf and sold for $6.9 million
  3. 8950 S Westwind Road totals 3,588 sf and sold for $7 million
  4. 1550 W Oakey Blvd. totals 3,900 sf and sold for $6.2 million

76 Gas properties in Phoenix area:

  1. 2025 E. Chandler Blvd in Chandler totals 2,871 sf and sold for $6 million
  2. 777 W. Ray Road in Gilbert totals 2,046 sf and sold for $5.8 million

Year to date, SRS Capital Markets has completed approximately $684 million in deal volume comprised of 77 transactions in 34 states. SRS currently has in excess of 670 properties actively on the market with a market value surpassing $3.25 billion.

About SRS Real Estate Partners

Founded in 1986, SRS Real Estate Partners is building upon its retail foundation to provide extensive commercial real estate solutions to tenants, owners, and investors. Headquartered in Dallas, with 29 offices in the U.S., SRS has grown into one of the industry’s most influential and respected leaders. Our commitment to excellence is strengthened by our Guarantee of Value and our success is measured in the achievement of our clients’ objectives, satisfaction, and trust. For more information, please visit